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Un-unionized

The share of US workers who are members of a union has fallen again, according to new data from the Bureau of Labor Statistics — hitting a new low of just 1 in 10 employees being unionized in 2023, slightly down from 10.1% the year before.

While union membership has been in decline for decades, last year saw a historic number of long-running strikes, with everyone from Hollywood actors, to auto workers, to Starbucks baristas joining their union’s respective picket line, as public approval of labor unions hovered near 50-year highs.

Although many of these strikes resulted in wins for unions — with total union membership actually increasing by ~100k from the year before — this was not enough to outpace the wider growing US workforce, as private sector union membership continued to shrink. Indeed, the membership rate of public-sector workers (32.5%) was reported to be more than 5x the rate of private-sector workers (6.0%) last year.

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Charting six major trends to keep watching in 2026

We’ve made a lot of charts this year — here are some of the biggest trends of 2025 and where we think they might go in the 12 months ahead. And no, it’s not just about AI.

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Starbucks sells control of China business for $4 billion

Starbucks disclosed on Monday evening in a regulatory filing that it will sell control of its ailing China business to Boyu Capital for about $4 billion.

Under the agreement, Boyu will own a 60% stake in the China segment, which will become a joint venture between Boyu and Starbucks. The coffee chain will retain a 40% interest in the entity and will continue to own and license the brand and intellectual property.

Bloomberg reported earlier this year that the company was looking to sell its China segment. The American coffee giant has struggled to succeed in China, its second-largest market after the US.

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